Finance Durham invests £750k in Growth Capital Ventures

Durham County Council’s Finance Durham Fund has invested £750,000 in FinTech firm Growth Capital Ventures.

The fund said the investment, through Finance Durham and managed by Maven Capital Partners, will be used to support GCV’s growth as it looks to expand its three main business units - G-Labs, G-Ventures and Quva - and move to larger offices within County Durham.

Launched in 2015, GCV helps investors build a diversified investment portfolio and supports entrepreneurs with raising capital to launch and scale high-growth businesses.

G-Labs, GCV’s innovation and venture builder unit invests capital, knowledge, experience, ideas and infrastructure to help tech entrepreneurs incubate business opportunities from concept to launch.

This approach also includes the G-Ventures online investor platform, with access to well-structured and high-quality investment opportunities where the interests of investors and founders are aligned.

GCV’s latest software solution Quva helps design, build and operate online investment and reporting platforms aimed at streamlining the overall investment process and providing an end-to-end solution for investment managers and investor clients.

Sarah Slaven, interim managing director at Business Durham, said: “GCV are a great example of the kind of dynamic company Finance Durham was set up to help and we are really pleased to be able to support their continued growth through this investment.

"The services and platforms that GCV have developed will support Business Durham’s agenda to grow the FinTech sector in the county and help new companies bring forward innovative high growth proposals, which will be particularly important as we move into a period of economic recovery.”

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